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2011 (8) TMI 536 - AT - Central ExciseDemand - limitation - whether suppression can be alleged and extended period and penal provisions can be invoked, in cases where exemption is claimed for supplies to Projects financed by an Organization, which was declared as not notified subsequent to clearances, consistent view has been taken by the Hon ble Tribunal (some cases upheld by Supreme Court and High Court) that in such cases, extended period is not invocable and penalties are not imposable - reliance was placed in the case of Bharat Heavy Electricals Ltd. [2005 -TMI - 54919 - CESTAT, PRINCIPAL BENCH, NEW DELHI]- Hence, the exemption under Notification 108/95 is not available to the project financed by JBIC but demand beyond the period of one year from the date of show-cause notice are not sustainable and penalties under Section 11AC on the assessee firm and penalty on GM of the assessee firm is also not sustainable.
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